Axon Enterprise Inc. (AXON)

Return on equity (ROE)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	174,227	146,131	98,865	137,407	147,139	104,456	140,849	42,770	-60,018	-20,676	-70,073	-53,715	-1,724	-39,937	-32,960	-1,463	882	15,344	14,951	22,698
Total stockholders’ equity	US$ in thousands	1,612,030	1,521,120	1,445,000	1,403,000	1,268,490	1,231,310	1,193,650	1,124,790	1,047,850	1,113,900	1,097,700	1,010,900	976,255	895,153	869,813	559,590	543,495	507,647	488,927	480,539
ROE		10.81%	9.61%	6.84%	9.79%	11.60%	8.48%	11.80%	3.80%	-5.73%	-1.86%	-6.38%	-5.31%	-0.18%	-4.46%	-3.79%	-0.26%	0.16%	3.02%	3.06%	4.72%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $174,227K ÷ $1,612,030K
= 10.81%

Axon Enterprise Inc's return on equity (ROE) fluctuated over the quarters displayed in the table. In Q4 2023, the ROE was 10.81%, slightly higher compared to the previous quarter at 9.61% in Q3 2023. The ROE was the lowest in Q2 2023 at 6.84%, indicating a decrease in the company's ability to generate profit for each unit of shareholder equity during that period.

Looking back at Q1 2023, the ROE increased to 9.79% from 11.60% in Q4 2022. Furthermore, the company experienced an upward trend in the ROE from Q3 2022 at 8.48% to Q2 2022 at 11.80%. However, in Q1 2022, the ROE fell to 3.80%, showing a significant decline from the previous quarter.

Overall, Axon Enterprise Inc's ROE has shown some volatility, with fluctuations in performance and efficiency in utilizing shareholders' equity to generate profits during the periods analyzed. Further investigation and comparison to industry benchmarks may provide additional insights into the company's financial performance and potential areas of improvement.